CEC Properties Acquiring 2 Firms
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NEWPORT BEACH — CEC Properties Inc., formed 18 months ago from a Utah company that built golf courses, said it has signed agreements to acquire an Atlanta golf management company and an Oceanside golf marketing firm.
Terms of the deals, both for cash and stock, weren’t disclosed.
The Newport Beach firm will pick up management of two Georgia public courses with its acquisition of Classic Golf Management Inc. and will pick up marketing expertise with its purchase of WorldWise Marketing & Graphics.
Paul Balalis, CEC’s chairman, said both deals should be completed by the end of the month. CEC also is negotiating to build courses it will own and manage in Camarillo and Barstow, he said.
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